tv Special Report With Bret Baier FOX News April 10, 2012 3:00pm-4:00pm PDT
independents. it was just adults. >> eric: that is it for "the five." we have to go. thank you for watching. see you tomorrow, everybody. >> greg: i had to! >> bret: ruling republican presidential warfare ends with a surrender near the historic battleground of gettysburg. this is "special report." ♪ ♪ ♪ ♪ good evening >> good evening. i'm bret baier. at times what appeared to be a fight to go to the convention in tampa in august, ended instead on an april afternoon in a pennsylvania town famous for war and reconciliation. three-and-a-half hours ago, rick santorum suspended his presidential campaign. effectively removing the biggest hurdle for his bitter rival mitt romney to clinch the nomination. chief political correspondent carl cameron shows us how it ended. >> reporter: after an easter
weekend of reflection, rick santorum surrounded by his family suspended his presidential campaign in pennsylvania. the state he represented in the u.s. senate for two terms. >> we made the decision to get in the race at our kitchen table, against the odds. and we made a decision over the weekend, that while this presidential race for us is over, for me, we will suspend our campaign effective today, we are not done fighting. >> reporter: he was underfunded, outorganized and had almost no hope left of stopping mitt romney from winning the nomination. yet, santorum far exceeded expectations, surging last among rivals, santorum won ten more states and blue collar populism to earn him leadership role on the right. he knew all along he was a longshot. >> this race was an improbable as any race you will see for president. >> reporter: before santorum publicly bowed out, he privately called to concede to romney who issued a statement
calling him able and worthy competitor. "he has proven himself to be important voice in the party and the nation. we both recognize what is important to putting failures of the last three years behind us and sending america back to path to prosperity." newt gingrich called it a testment to the power of conservative principles. gingrich is going on to the convention so conservative moment has a real choice. it humbly ask santorum supporters to visit newt.org to review the conservative record and join us as we bring values to tampa. santorum strategist in their words thought they could probably have won pennsylvania. to continue, however, they would have also needed gingrich out of the race with a deal to absurd his delegat delegates. plus, next month texas primary had to become a winner take all. recognize neither is likely, santorum bowed out, promised to keep up the fight and made no mention of romney. >> we will continue to go out there and fight to make sure we defeat president obama, that we win the house back. an that we take the united
states senate and we stand for the values that make us americans. that make us the greatest country in the history of the world. that shining city on the hill. to be a beacon for everybody for freedom around the world. thank you very much. god bless you. >> reporter: santorum's campaign went farther than many expected. his withdrawal clears the romney path to the nomination. it is romney versus obama. and the general election is exactly 30 weeks from today. bret? >> bret: carl, thank you. today's announcement puts on hold santorum's political resurgence following the devastating loss of his senate seat in pennsylvania in 2006. he stressed today he had taken this campaign farther than anyone expected. >> against all odds, we won 11 states. millions of voters. millions of votes. we won more counties than all the other people in this race combined. >> early on, some analysts called him the rodney
dangerfield of the g.o.p. race. a candidate who wasn't getting respect. rick santorum began his campaign june 6, 2011. >> i'm running for president of the united states. >> bret: 309 days later he bowed out. but not before the former senator from pennsylvania proved the pundits wrong. winning iowa, missouri, minnesota, colorado, tennessee, oklahoma, north dakota, kansas, alabama, mississippi and louisiana. he received more than 3.2 million vote votes in the 37 contests so far and he often pointed out he did so against a well-funded opponent. >> tonight we have an opportunity to see what a campaign look like when one candidate isn't outspent 5 or 10 to 1 by negative ads impugning their integrity and distorting their record. >> bret: santorum barely qualified for several debates at the beginning of the race. hovering at only around 1% in the national polls. when the republican field was more crowded, he frequentenly
complained about not getting enough attention. >> you guys have been giving the guys a lot of time. not a lot of time to answer the question. >> santorum's early strategy involved visiting all 99 iowa counties. emphasizing old fashioned retail politics. sometimes holding town hall meetings with only a few iowanss in attendance. >> this is the little engine that could campaign. >> bret: even when his hard work in iowa paid off with a victory, he wasn't recognized until 18 days later. too late for a bump in new hampshire. at the time, when the candidates and the media were focused on south carolina. with mitt romney and gingrich attacking one another, santorum's campaign gained new life. >> it's true that mitt romney and newt gingrich created the conditions that enabled him to flourish. but he had to do a lot of the flourishing on his own. he has managed to forge ahead when few thought he could. he has done so on fumes. >> bret: he won a trifecta in early february, colorado,
minnesota, missouri, the same night. after coming close in michigan and then ohio. two crucial wins for mitt romney. santorum won alabama and mississippi. and cruised to victory in louisiana. >> we are still here. we are still fighting. >> bret: but in the end, santorum's battle with the g.o.p. nomination ended in gettysburg. 14 days before the state he represented for 16 years went to the polls. let's get reaction now from senior political analyst brit hume. good evening. what about this campaign? >> i think that santorum did the right thing for himself and his family. i'm sure the campaign is in debt. he is probably going into his personal savings. he has a big family. a lot of mouths to feed the kids' schools to think about. he did wise thing politically. he was in real danger of losing pennsylvania. republican-only race from this primary, again having lost it so badly in 2006. having been left for dead.
he has revived his political fortunes. he is back as major figure in the republican party. if he were to lose that state again, it would have undone a lot of what he accomplished. not all of it but a great deal. getting out now while he is attacked, his achieve in the the race. considerable. >> bret: it was clear there was ans noty with santorum and romney -- animosity between santorum and romney because of the negative ads piling up. he didn't mention romney by name in the speech today. significant? >> he has made peace with the reality he, santorum, isn't going to make it. but i don't think he has made peace with his relationship with romney. but my guess is that will come with time. we talked about this eight days ago right here. at that time, it appeared to me and others that this man was so full of excitement and exhilaration about what he had done, he was nowhere ready to get out. things can happen quickly in politics. he had several days to reflect. he will have to reflect more
before he is able to come out for mitt romney. but he will in my judgment. an he should. >> bret: newt gingrich and ron paul still in that race. gingrich sat in that seat with you hosting "fox news sunday" and it sounded like he was a guy getting ready to leave the race. he doesn't sound like that over the past 24 hours. >> no, he doesn't. but for all intents and purposes he has. he hasn't any money. he acknowledged he is at $4.8 million in debt. he has to pay that off. he doesn't have the money to campaign as you need in the upcoming states. so he is still there. he may attract votes. but he can't effectively campaign. he is so far behind. there is no way barring mitt romney falling and breaking his neck or something that gingrich could be the man that the party would turn to. not that they would especially if it happened. he's made peace with reality. though he is not talking about it today. >> bret: ron paul will go all the way? >> he was always going to. but the role shrunk from the
beginning looked like he might win a race or two and it never happened. >> bret: thank you. >> you bet. >> bret: president obama at this hour is trolling for campaign cash among the well-healed in hollywood, florida. but fired the first shot on tax fairness, targeting the wealthy and making it personal with his likely opponent. senior white house foreign affairs correspondent wendell goler has details. >> back again in politically crucial florida, the president focused on an issue republicans say is politically driven. raiding taxes on millionaire investors who pay after the tax rate as the upper middle class. >> now that's wrong. >> that is not fair. >> the proposal would raise taxes to 30% on all income between $1 and $2 million a year. he had proposed raising capital gains taxes to 20%. critics say it would hit retirees. supporters say only those well off. it was named for billionaire investor warren buffett but mr. obama's target include multimillionaire republican front runner mitt romney.
they pay 15% of their income on taxes on investment and he is targeting republicans in the senate who soon have to vote on the so-called buffett rule. >> i told you where i stand. now it's time for members of congress to tell you where they stand. >> the issue has touched a nerve with republicans that say it won't lower the deficit, won't create jobs and has no chance to pass the house. john cornyn called it a partisan manifesto to justify a campaign tax hike. fellow texan george w. bush in a rare public appearance since leaving the white house warned raising taxes would cost jobs. >> if the goal is private sector growth, you got to recognize that the best way to create that growth is leave capital in the treasurys of the job creators. >> but job creation in mr. bush's two terms was the worst since eisenhower, despite the tax cuts. new "washington post"/abc news poll suggest most people disapprove of obama's handling
of the economy. yet, the same poll puts him ahead of alum rock. the campaign thinks the buffett rule is helping. likewise, polls suggest rolling back the bush administration upper income tax cut is popular proposal that the republicans oppose. republican thinks there is leftover resentment in that. >> they are less likely to be raised. >> rolling back the upper income bush tax cut would cut the deficit ten times as much as the buffett rule. democrats say it's a fairness issue. republicans say it's another way to kill job growth. >> bret: wendell goler live on the north lawn. thank you. ugly day on wall street. the dow lost 214. the s&p 500 gave back 24. the nasdaq closed 56 behind. fox business network senior washington correspondent peter barnes is here to tell us what is going on. good evening. >> good evening. it was the biggest decline of the year for the dow. and the third triple digit loss in four days. the dow is now down 540 points
over five days. about a 4% haircut to the lowest level since early february. after a strong runup in the first quarter. investors renewed concerns about the european debt crisis. economic growth after that weak u.s. jobs report on friday. and corporate earnings. in europe, borrowing costs for spain and italy are jumping. spain is close to levels that forced other countries to seek bail-outs. but quarterly, corporate earnings season got kicked off to a good start here stateside tonight. alcoa surged 5% after the marks closed when the company reported a profit of $94 million or 9 cents a share. analysts had been expecting a loss. alcoa says it expects business to grow. keep growing. as i was headed to the studio, bret, s&p stock futures were trading higher. >> bret: okay. peter, thank you. controversial baseball figure takes heavy fire over political comments. that's later in the grapevine. up next, the cease-fire that
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>> bret: a white house warning to north korea tops world headlines. press secretary jay carney said a planneded rocket launch would be a flagrant breach of the country's international obligations and would jeopardize food aid from the u.s. iran's official news agency says its intelligence department has this mantle and assassination and sabotage network it says is linked to israel. also today, president mahmoud ahmadinejad said his country can manage its economy, even without crude oil exports. and iran said it would soon cut off oil sales to greece. there are few signs tonight that syrian troops are abiding by a u.n.-backed cease-fire supposed to be ramping up today. correspondent leland vittert's report contains images you may
find disturbing. >> in flagrant violation of a cease-fire agreement that began today, the whine of incoming artillery pierced the morning air. this is the agreement asks a voice on one tape before another explosion. unconfirmable amateur video shows the art tillry unit around towns in the country. new video shows the torture of protesters, including government loyalists like opposition fighter on fire. in this video, soldiers beat a man while forcing him to kiss a picture of the president. "you want freedom, the," they s. "this is freedom." rebel fighters struggle to evacuate women and children. across the boarder in turkey, u.n. envoy annan toured refugee camps where tens of thousands have sought safety.
and said it was too early to call the plan he brokered a failure. at the u.n., security council meeting ended in the usual deadline. u.s. ambassador susan right said the council will soon face a moment of truth. but for now, giving assad more time. >> it's essential that the next 48 hours bring visible signs of immediate and indisputable change in the military posture of the government forces throughout the country. >> as russia continues its absolute protection of syria at the u.n., there is little reason for president assad to stop killing his own people. this reality gives meaning to the battle cry "victory or death." with the facts on the ground, victory seems unlikely. in jerusalem, leland vittert, fox news. >> bret: still ahead -- can a computer hacker be an american pitry yot? first, what one report says the real price tag for obamacare.
>> bret: the general services administration has let go the eighth employee on administrative leave. fall-out of the training conference in las vegas. also today, missouri democratic senator claire mccaskill said she is looking in to issues given to the gsa officials while they were under investigation. president obama's healthcare law to set the deficit. that is the conclusion of a new study. [ inaudible ] >> the healthcare benefits.
produce enough money to pay for both. our viewing is the administration is double-counting and that's why conservative policy analyst predicts the president's healthcare law would add more than $340 billion to the deficit in the next decade as an attempt to accomplish a great deal. >> one is to extend the program. that requires financial retort. they want to extend health coverage to 30 million people. that requires a lot of resources as well. >> white house press secretary jay carney on air force one attacked the report saying, "this is obviously a partisan analysis. it does not comport with the official presentations put forward by the cbo." republican lawmakers opposed to the law argued it will end up costing much more than ridgally advertised. >> congressman tom price knows the man behind the study is one of the officials responsible for determining the viability of the program. >> it comes from one of these medicare actuaries.
this isn't just somebody off the streets. this is somebody who has been dealing with the numbers day if and day out. >> the white house tried to get ahead of the report challenging the numbers. posting on the blog last night, "this new math fits the old pattern of mischaracterizations about the affordable care act when official estimate shows the healthcare law reduces the deficit." yet they say mistakes are too high with the healthcare law for budgetary gimmicks when you consider how far-reaching it is. >> i thought that this law was so important. the fiscal consequences so great it was essential there would be increased public understanding of what has taken place here. >> it was approved by president obama to be the republican trustee for medicare and social security. folks with jay carney said he was appointed with consultation of republican leaders in congress and it does not mean that the president agrees with his economic analysis. bret? >> bret: mike, thank you. the international monetary fund says fewer than 1 million mortgages have been modified under the administration's
plan to prevent foreclosures. the initial goal was up to 4 million. and chief washington correspondent james rosen tells us now the white house is pushing another plan to give borrowers a break. >> 11 million american homeowners are under water. the homes are worth less than what they owe on the mortgages. 2.5 million of them have mortgages owned or insured by fannie mae or freddie mac. now the obama administration wants the two government-backed entities to write down the homeowners' principal, balking at the idea is ed demarco, acting director of fhfa thatover seas fannie and freddie, as he told the brooking institution the obama administration plan would help relatively few homeowners. >> this is not a difference-making program to rescue the housing market. it's the debate about which tools have the margin better balanced to goal. maximizing assistance for
several hundred thousand homeowners and minimizing further cost to all other homeowners and taxpayers. >> indeed, roughly 80% of fannie and freddie homeowners are current on mortgage payments. tim geithnerial urged demarco to take another look at the math. arguing the writedown estimated to cost taxpayers $100 billion would spur recovery and offer net gain for treasury. >> we think there is a set of cases where it's clearly in the interest of the taxpayer for them to do principle reduction upfront. not overwhelming number but where it make sense we should do it. >> congressional democrats support the write-down. >> how do we get fannie and freddie to run the same play as the rest of the economy? >> conservative analysts call it election year bail-out. >> it's costly for taxpayer and are dead last in terms of priorities in what we should be doing here. >> there is no evidence by the way that they'll work.
>> secretary geithner has offered director demarco and the fhfa the use of leftover tarp funds to underwrite the proposal. demarco made clear he is still studying the math. in washington, james rosen, fox news. >> bret: the south carolina state ethics commission opened an inquiry in campaign finances of republican governor nikki haley. the complaint accuses haley of failing to maintain proper records of donors' occupations and addresses. haley's spokesman calls at it political stunt. the very people who are supposed to be conveying information actually trying to bury it for political gain? and one manager learns the hard way that baseball an politics do not mix. grapevine is next. [ female announcer ] want to spend less and retire with more? then don't get nickle and dimed by high cost investments and annoying account fees. at e-trade, our free easy-to-use online tools and experienced retirement specialists can help you build a personalized plan. and with our no annual fee iras
>> bret: now some fresh pickings from the political grapevine. wisconsin governor scott walker's office says the state's largest teacher union trying to hide result of research that would prove schools have actually benefited from his changes in education funding. walker's move to cut collective bargaining for union members including teachers sparked the current recall effort. his office assembled this chart that purports to show under walker's reforms there were fewer layoffs, smaller class sizes, and more extracurricular activities than in years past. the state journal reports the union had posted those previous survey links on the website. however, they are no longer
there. walker's office says it found the data in a different area of the website. the union says last fall survey result showing improvement are "too unique to compare to past ones." but no word from the union on why the previous surveys were removed from the website. miami marlins' manager ozzie guillen has been suspended for five games following comments he made about fidel castro. guillen told "time" magazine he loves castro and respects the retired cuban dictator for staying if power for so long. remarks enraged miami's large cuban-american population. guillen apologized for profusely again today and said the comments were misinterpreted by the report. someone is messing with online forums used by al-qaeda sympathizers. fox news has learned who is claiming responsible. chief intelligence correspondent catherine herridge is here with the intriguing details. >> thank you. good evening. this goes by the handle raptor online.
claims to be a grandfather and former member of the millty with at least one child on active duty. his twitter account is active and he takes pride in the demise of the radical website. on march 25, he tweeted all three of the al-qaeda top three web forum, are in inaccessible. tango down. then he tweeted the counterterrorism community writing for years intelligence officials relied on the al-qaeda forum to gather insight. after all these years we're still at war. the websites were down for ten days, one of the longest period ever. the f.b.i. director recently told congress these websites are the life blood of the new digital jihad. >> most of the ares we made in the last year, year-and-a-half have been lone wolves. those individuals who have been radicalized, trained on the internet have capability of developing iets and other mechanisms on the internet.
>> the web forms facilitate recruitment and training and the new american recruits, including adam from california, on the left. one from alabama and al-awlaki from new mexico who once killed -- was killed by c.i.a. strike in september. record claimed could not be independently verified. asked if the u.s. government was involved they declined to comment. separately fox news told the intelligence community leave them up because they're good hunting grown for lead to potential terrorists. >> thank you. we're getting late word tonight that the florida man who says he killed an african-american teenager in self-defense has been dropped by his attorneys. george zimmerman has not been charged, but he is being investigated for the shooting. his lawyers say they have withdrawn from the case because they have lost contact with him. rick santorum is out. what this means for mitt romney and the general election campaign when the fox all-stars join me after the
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we made a decision to get into this race at the kitchen table, against all the odds. we made a decision over the weekend that while this presidential race for us is over, for me, an we will suspend our campaign effective today, we are not done fighting. i walked out after the iowa caucus victory and said game on. i know a lot of folks are going to write, maybe those at the white house will write game over but it's a long way from over. we'll continue to go out there and fight to make sure we defeat president barack obama. >> bret: rick santorum suspending his campaign today. two weeks before the state he represented for 16 years voted in g.o.p. presidential nomination battle. it's a speech he did not mention in which he did not mention his primary opponent. mitt romney's name.
just a few moments ago, romney weighed in on this decision. >> senator santorum has decided not to proceed with his campaign. and i had the chance to speak with him this morning. we exchanged our thoughts about going forward. and we both have a great deal of interest in seeing the country taken in a very different path. he has made an important contribution to the political process. >> bret: so what about this and how it affects the race in bring in the panel. steve hayes for "weekly standard." a.b. stoddard, associate editor of fair hill. indicatehill -- editor of the hill. and syndicated columnist, charles krauthammer. >> in the speech today, rick santorum said it was one of the most improbable runs for president in history. he's right. think where he was. before the iowa caucuses he wasn't registering on polls. i heard you and megyn kelly talk there was a question whether he would be involved in the fox news debates.
he had no money. didn't have much name i.d. he had spent time on the ground in iowa going from coun toy to coun i can with his friend chuck wagner, political activist in iowa, built up a base of support there. had an improbable win, it was a win in the iowa caucuses. and then rode that to become the front runner for some time. it's really an incredible story. i think we haven't probably sent as much time, we collectively as a media community, haven't spent as much time looking at how he did the mechanics how he did some of this. chuck wagner who joined up with santorum in iowa. then went forward to the other primary states and caucus states. a week before santorum was on the ballot there and would rally the social conservative activist groups, get them together. plug them in to the santorum campaign. and allow santorum to ride those in some cases to victory. i think it was incredible run for santorum. he deserves credit.
so does his campaign. it's been good for the republican party in one narrow respect. it's had its, done its damage this long fight. in one respect, i think mitt romney has had to continue to appeal to conservatives happen. is good for romney and for the republican party. >> bret: a.b.? >> well, i was really surprised to hear him today go on and on about what he loved about the campaign. and never mention obamacare. it was the one issue he could have won with. he did very much damage to mitt romney at key moments. the party really did not want to embrace mitt romney. it was his biggest line. no one ever gave him a run for his money on it. rick santorum had the message. he dropped it. he talked about the dangers of free prenatal testing in college education. john f. kennedy making him want to puke. but had he stayed on that, galvanizing issue ofo the nomination. santorum was undisciplined and let it go. he would have gotten the money
and momentum. he could have thrown mitt romney off. but he got, he is very undisciplined. he keeled off message. it was very interesting today to hear him not utter one word about healthcare. >> bret: for romney, save for close races in michigan and ohio, this could have been a different story as we head to this next. >> it could have. particularly, the michigan race which would have been embarrassing, could have been a game-changing defeat if romney lost. it's his native state. he is supposed to win it. he only won by 1%. santorum was camming off the hat-trick, the night he pulled off colorado, minnesota and missouri. improbably. he had all the momentum. a.b. is right. that is the week he stumbled. he lost his way. he talked about the kennedy speech and contraception. he talked about snobbery of going to college. two of which he later had to retract. rather than stay on message, that one -- those stumbles is
what cost him the 1% or cost him a chance. nonetheless, if you look at a large picture, i'm not sure even that could have won the race for him. he could have slowed down romney and dragged it out until perhaps may or june. but he did run the most improbable races as jimmy carter. the same way. carter invented the idea of going grassroots, under the radar, right through iowa and coming out of nowhere. that is what santorum did. i have to say the one stumble today was the moment that he never uttered the words "mitt romney." he didn't have to heap a lot of praise on him. all he had to do was say one sentence, he is a worthy guy. i'll support him for the presidency. he didn't. i know he will in time but it shows he still carried bitterness. i don't think it helps him. >> bret: there are two others still in this race. besides mitt romney. newt gingrich and ron paul. newt gingrich weighed in today
on santorum's decision. >> this is a more open convention than people think. governor romney has huge money but he has distinct liability in ideas and distinct liability frankly in people raising questions about him. frankly, on values and on conservatism, i am much closer to senator santorum's delegates than governor romney is. >> bret: he went on in the press availability to ask for santorum delegates and ask for santorum to endorse newt gingrich. steve, we talked about the gingrich campaign in debt. more than $4.5 million. he talked on "fox news sunday" as a candidate who appeared to be coming to grips with that. then in the last 24 hours has changed at least his public tune. >> the race is over. he is not going to win. he might have some sort of spar for something that allows him to go out and give a press conference like that. he is not going to win. santorum is it no going to endorse him. his delegates are not going to
flock to gingrich. the race is over. it's probably been over for several weeks but it's certainly over now. >> bret: a.b.? >> i think newt gingrich is having a good time. as i said before, i think he wants to go to tampa. i think he means to go to tampa. he wants to go down in history as having gone to tampa. i don't know what he will do there. but i agree with steve, he won't get santorum's delegates or his endorsement. he is deeply in debt. he is barely campaigning. told the "washington post" he sleeps sometimes 13 hours a night. he is having a nice time. but he is doing this for a different reason. he is not amassing delegates and he is not going to threaten the nominee. >> bret: newt gingrich and ron paul? >> well, look at where gingrich is going to campaign for the upcoming, the five big states. he is campaigning in delaware. not in new york. not in connecticut. it's not a serious campaign. it's for show. perhaps a day or two with santorum leaving it makes him the opposition candidate. but it is over. it was over the night of wisconsin.
it was definitely over tonight. without a fear of contradiction there will not be a third resurrection from the newt gingrich campaign. >> bret: down the line quickly, did rick santorum improve his chances for 2016? and within the republican party by the decision today? >> absolutely. he risks running in his home state and losing. the race is tight. he would have undone all the good he did in the campaign. >> i agree about pennsylvania. right time to leave. it will depend how he endorses romney and what he asks for in return. >> this was his moment. i think 2012 was his moment. peculiar set of circumstances and he took advantage of it. i don't see him as a serious candidate in 2016. >> bret: next up, we look at the president's embrace of the so-called "buffett rule" and whether it stands up to scrutiny. [ male announcer ] every day, thousands of people are choosing advil® for their headaches. my name is sunshine and i have three beautiful girls.
do we want to keep giving tax breaks to folks like me who don't need them, or give them to warren buffett? he definitely doesn't need them. or bill gates, he already said, "i don't need them." or do we want to keep investing if those things to keep our economy growing and keep us secure? that is the choice. >> if the goal is private sector growth, you got to recognize that the best way to create that growth is to leave capital in the treasurys of the job creators. >> bret: former president bush, a rare appearance today. the current president in florida talking about the so-called buffett rule. embracing that. raising taxes specifically on capital gains for the wealthy. we take a look at some polls in the obama approval, according to the latest "washington post"/abc poll. they approve and disapprove. handling the economy is a
different story in this poll. 44% approve. 54% disapprove. head-to-head against mitt romney, which do you trust more to hand the economy? there you see 47%. to the president's 43%. which do you trust more to protect the middle class? again, changes, 49 to 39. back with the panel. charles, what about the so-called "buffett rule" and how the president is yudeing it and talking about it? >> let's understand what all of this is about. this is absolutely nothing but re-election politics. what he has done is to literally paint the 99% against the 1%. he has done in a cleaver way. he basically has turned occupy wall street in to legislation, except real people in the street in the occupy wall street streets never had wit to come up with this idea. this is a way of saying you will take the money from the rich and give it to the poor. obama is not a good governor. he doesn't know how to be a president. but he knows how to campaign. and the second sort of political genius here is
essentially what this is about is raising the capital gains taxes. the reason the rich are paying less is so much of the income of buffett or romney, is capital gains. but he doesn't sell that it way. he sells it as fair share of the rich and paying minimum tax. the reason he does that, everybody he knows that if you look back over the last half century capital gains taxes have a reverse effect. you raise them and reduce the amount of money the treasury gets. you lower them and you increase the amount. in 2008 when obama was asked by charlie gibson would you raise capital gains taxes even if it brings in to treasury less revenue? his answer was yes in the name of fairness. he is running on that. fairness. damn the economy. romney will run on efficiency. i don't really care if the rich get ahead on account of that. obama has a good idea. he can't run on his record. he doesn't have a vision or program for second term. so why not run on fairness? >> bret: a.b.?
>> well, this is an issue that dating back more than a year has polled very well for obama. the last "associated press" poll in february had it at 65%. the "washington post," the same poll talks about the issue of unfairness versus overregulation. and unfairness beats out over regulation in terms of the effect on the economy. this sals the political equivalent of shooting fish in a barrel because they have mitt romney to target. romney pays 13.9% rate of taxes. he only releases one year-and-a-half of his tax record. there is reports now that he is sheltering in his earnings from bain, he has a swiss bank account. he is really the perfect foil for, you know, sort of profile of the opponent of the buffett rule. president obama is not a lot of money. he says the white house website, it says a key step to reduce the deficit. it's not. but it is politically, it is a
distraction from the march jobs report. that we learned about on friday. if the economy begins to tumble, we will hear a lot about fairness. it's true inside the polls, however, voters look more to the handling of the economy issue and the job creation issue than they do to the tax fairness issue. i think politically it could work if the economy continues to remain strong because of the profile of mitt romney, as this rich man who hasn't paid enough. >> it will probably work politically, but don't reporters have a job to do here? isn't it job of the media to put it in perspective? the buffett rule would raise less than 6% of the total cost of the stimulus. if you look at buffett rule it would raise the same amount in one year, $4 billion according to the joint taxation, joint committee on tax nation. $4 billion in one year. as the government accumulates in debt in a single day. this is meaningless. worthless. the president spent more time talking about this than
virtually any other specific economic policy proposal at a time when the economy is struggling and we had a bad jobs report. this is the president's plan. this is not a plan. not serious. there is nothing serious about it. reporters should do their job and put it in perspective. >> bret: the other thing there are all kind of numbers flying out there. take a look at the numbers about from americans for tax reform. these are the breakdowns of the percent of all tax revenues. top #%, which is -- 1% which is 30, $344,000 and up. all federal taxes is 28%. roughly $55,000 family, 44.6% in income tax. 9.2% all federal taxes. then you talk about the rate, top 1% income tax, 19%. all federal taxes 29%. and the middle income again, $65,000 a year. 3.3%. 14.3%. charles quickly, there will be
a number of numbers but they will glaze over, i'm sure. >> i'm not sure that they ought to concede ground of fairness. they ought to argue and quote john kennedy who lowered taxes including capital gains as way of stimulating the economy and creating jobs. that is the winning answer. >> bret: that is it for panel. stay tuned for some not so smooth talking. [ male announcer ] what can you do with plain white rice? when you pour chunky beef with country vegetables soup over it...
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>> bret: finally tonight, sometimes live tv can be tough. especially when you have a brain freeze or you can't get out what you want to say. but, some examples are worse than others. >> i think that, um, i think that, i think that romney, um, i think the people just, um,. [ laughter ] um, this is -- this is what i want to say -- >> bret: that would be tough on the panel. not too much